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How Can I Calculate the Adjustment Amount on Form Keogh, Sep, and Simple Contribution Worksheet for Notary
Hi there, I've already gone through the Self-Employment Screen in the Business Section and indicated that I am a Notary there so we're good on Sch C, and TT told me that I owe no SE Tax because I put in my Net Income, but for the purposes of calculating the maximum amount allowed to put in my 401(k), I have to make an adjustment. I remember last year that someone walked me through it. The number belongs on Part II, 1b and 1c. On line 2a, it is listing a deductible portion of self-employment tax, which I guess is the part that has to be adjusted since I have no self-employment tax. I did this last year but can't remember how I did it. Any help is appreciated.
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‎February 15, 2023
10:48 AM